a. Complete an amortization schedule for $47,000 loan to be repaid in equal instaliments at the end of each of the next 3 years. The interest rat is 10% compounded annually. If an amount is zero, enter " 0 ., Do not round intermedlate calculations. Round your answers to the nearest cent b. What percentage of the payment represents interest and what percentage represents prifical for each or the s years? uo not round intermediate calculations, Round your answers to two decimal places. Why do these percentages change over ume? 1. These percentages change over time because even though the total payment is constant the amount of interest paid each year is declining as the remaining or outstanding balance declines. 11. These percentoges change over time because even though the total payment is constant the amount of interest paid each year is increasing as the remaining or outstanding baiance declines: iII. These percentoges change over time becouse even though the total payment is constant the amount of interest paid each year is decining as the remaining or outstanding balance increases. IV. These percentages change over time because even though the total payment is constant the achount of interest paid each year is increasing as the remaining or outstanding baisnce increases. . These percentages do not change over time; interest and principal are each a constant percentage of the total payment